Jaguar Health (NASDAQ:JAGX), a commercial-stage pharmaceutical company focused on gastrointestinal products, released its consolidated financial results for the fourth quarter and full year ended December 31, 2025, on April 7, 2026.
The company reported total net revenue of approximately $3.2 million for the fourth quarter of 2025, representing a 5% sequential increase over the third quarter, though down approximately 8% compared to the prior-year period.
For the full fiscal year 2025, Jaguar’s net product revenue totaled $11.5 million, driven primarily by sales of Mytesi® (crofelemer) for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy.
A significant post-period highlight was the receipt of a $16 million upfront, non-dilutive license payment in January 2026 from Future Pak.
This payment is part of a strategic U.S. license agreement under which Jaguar will also recognize ongoing manufacturing revenue.
The capital infusion is expected to provide much-needed runway as the company navigates its 2026 clinical and regulatory milestones.
Despite the revenue gains, Jaguar reported increased research and development (R&D) and operating expenses.
The company’s net loss attributable to common shareholders for the full year 2025 was $53.6 million, with a loss from operations totaling $45.9 million.
These losses reflect the high costs associated with late-stage clinical trials and the build-out of the company's rare disease subsidiary, Jaguar Gene Therapy.
On the regulatory front, Jaguar’s listing on the Nasdaq Capital Market remains under scrutiny.
Delisting proceedings have been stayed pending a formal hearing scheduled for today, April 7, 2026.
The company is expected to present a compliance plan to the Nasdaq Hearings Panel, which may include strategies such as a reverse stock split or further capital raises to meet minimum bid price and equity requirements.